** Shares of solar panel maker First Solar FSLR.O rise 9.5% premarket to $171 after Wolfe Research upgrades rating to "outperform"

** Brokerage attributes the upgrade to better clarity on 45X credit rules, adding co stands to earn $10 bln or ~$92/share of credits through 2031

** 45X tax credits offer better tax incentives to companies for making clean energy products

** Wolfe says FSLR is set to benefit as the "only domestic solar module manufacturer of scale" and its non reliance on foreign parts such as cells or wafers

** Brokerage adds the Department of Energy's Bipartisan Infrastructure Law bill's Foreign Entity of Concern restrictions favor the company

** "... Restrictions are relatively strict and another good signal that it will be tough for Chinese manufacturers to compete in the U.S." - Wolfe

** 34 of 40 analysts rate stock as "buy" or higher, 5 "hold" and 1 "sell"; Median PT is $199

** As of last close, FSLR down 11.4% YTD vs S&P 500 Information Technology index's .SPLRCT decline of 3.9%

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))